(Ignore income taxes in this problem.) If you wanted to withdraw $12,000 from a bank account at the end of each of the next 20 y
1 answer:
Answer:
The money should be invested in bank = $137,639.05
Explanation:
Given annually withdrawal money (annuity ) = $12000
Number of years (n ) = 20 years
Interest rate = 6 percent.
Since a person withdraw money annually for next 20 years with 6 percent interest rate. Now we have to calculate the amount that have been invested in the account today. So below is the calculation for invested money.
You might be interested in
Answer:
Total Material Variance = $52,130 Unfavorable
Explanation:
Total Material Variance = Actual Cost - Standard Cost
Total Material Variance = Direct Material Price Variance + Direct Material Usage Variance.
But here, we will calculate straight, therefore
Standard cost for 5,200 sleeping bags
= 5,200 4
$5.50 = $114,400
Actual Cost = 27,300 $6.10 = $166,530
Total Material Variance = $166,530 - $114,400 = $52,130 Unfavorable
As this is the positive, as also Actual cost is higher than standard therefore, this is unfavorable.